EntreMed (CASI) Raised to “Buy” at BidaskClub

BidaskClub upgraded shares of EntreMed (NASDAQ:CASI) from a hold rating to a buy rating in a research note issued to investors on Wednesday, April 4th.

Several other equities analysts have also recently commented on CASI. HC Wainwright reaffirmed a buy rating and set a $5.00 price objective on shares of EntreMed in a research note on Tuesday, January 16th. ValuEngine cut shares of EntreMed from a hold rating to a sell rating in a research note on Tuesday, March 13th.

How to Become a New Pot Stock Millionaire

Shares of CASI traded up $0.25 during trading hours on Wednesday, hitting $6.65. The company’s stock had a trading volume of 384,236 shares, compared to its average volume of 506,657. The company has a market capitalization of $506.52, a price-to-earnings ratio of -35.50 and a beta of 0.90. The company has a quick ratio of 8.66, a current ratio of 8.66 and a debt-to-equity ratio of 0.04. EntreMed has a 52-week low of $0.91 and a 52-week high of $7.59.

EntreMed (NASDAQ:CASI) last posted its earnings results on Thursday, March 29th. The biotechnology company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.06). sell-side analysts expect that EntreMed will post -0.22 earnings per share for the current fiscal year.

In related news, major shareholder China Growth Fund Idg-Accel II bought 3,086,418 shares of the company’s stock in a transaction on Wednesday, March 21st. The stock was acquired at an average cost of $3.19 per share, for a total transaction of $9,845,673.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Wei-Wu He acquired 3,086,419 shares of the stock in a transaction dated Monday, March 19th. The stock was acquired at an average price of $3.24 per share, with a total value of $9,999,997.56. Following the completion of the acquisition, the director now owns 847,527 shares in the company, valued at approximately $2,745,987.48. The disclosure for this purchase can be found here. 24.52% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC purchased a new position in shares of EntreMed in the fourth quarter worth $137,000. Perceptive Advisors LLC purchased a new position in shares of EntreMed in the fourth quarter worth $272,000. Renaissance Technologies LLC increased its stake in shares of EntreMed by 33.4% in the fourth quarter. Renaissance Technologies LLC now owns 150,600 shares of the biotechnology company’s stock worth $489,000 after buying an additional 37,700 shares during the period. Geode Capital Management LLC increased its stake in shares of EntreMed by 488.7% in the fourth quarter. Geode Capital Management LLC now owns 225,578 shares of the biotechnology company’s stock worth $733,000 after buying an additional 187,263 shares during the period. Finally, BlackRock Inc. increased its stake in shares of EntreMed by 32.6% in the fourth quarter. BlackRock Inc. now owns 386,090 shares of the biotechnology company’s stock worth $1,254,000 after buying an additional 94,984 shares during the period. Hedge funds and other institutional investors own 4.49% of the company’s stock.

WARNING: This story was first posted by Macon Daily and is the sole property of of Macon Daily. If you are viewing this story on another site, it was illegally copied and reposted in violation of U.S. and international copyright laws. The correct version of this story can be viewed at https://macondaily.com/2018/04/12/entremed-casi-upgraded-to-buy-at-bidaskclub-updated.html.

About EntreMed

CASI Pharmaceuticals, Inc, a late-stage biopharmaceutical company, focuses on the acquisition, development, and commercialization of therapeutics addressing cancer and other unmet medical needs in China. Its lead drug candidate is ENMD-2076, an Aurora A/angiogenic kinase inhibitor, which is in multiple Phase II studies in advanced fibrolamellar carcinoma, triple-negative breast cancer, advanced ovarian clear cell carcinomas, and advanced/metastatic soft tissue sarcoma.

Receive News & Ratings for EntreMed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for EntreMed and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply